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Friday, August 16, 2013

Developing a hotel with character has been my obsession for the last 3 years. Seeing the BIG hotel come alive certainly has been an interesting journey. From acquiring the property to emptying it of tenants, design concept to testing of beds. The whole journey has been an interesting affair and I could not have done it without my team. I am proud of my people who have been with me through the business journey in the last 3 years. My education, real estate people and hospitality professionals have been a source of strength even when I am most down. I will treasure these pillars.

The whole market for hotels has gone nuts. Gallery Hotel, Park Orchard and now the Sentosa have all gone for record pricing. All the room are going for 1 to 1.5 million in pricing. When I initially put the hotel up for sale, there were some skepticism on the pricing but now it seems very reasonable at $260 million. My real estate lawyers were joking with me that the market players commented that I always seem to be emotionally attached to the properties acquired but I seem to have no qualms once the price is right. Well, my investment philosophy has always been long term but if the target is achieved, it makes sense to recycle capital.

These exact same guys are now asking when is my next property investment course as they are curious on the strategies employed. There are many teaching programs but I am proud that we practise what we preach. Now that we are seeing some results, many skeptics are now converted and keen to learn. I am proud that I have taught not just novices but even real estate professionals. However, I am past my prime in teaching and have declined to teach further classes. I may change my mind later but at this moment, I am relishing the many opportunities at hand and enjoying life.

The new international economic environment and government curbs will have interesting impact on the investment scene and I will share more at a later date. In the meantime, it is Friday and I wish a great weekend ahead. Till the next entry, have a blessed life!

Thursday, August 15, 2013

Hi guys, it has been a long time since my
last post. I have been so busy catching up on all the lost time in the first
few months of this year. I have just visited so many places that I have lost
track of where I am. I have found that the opportunities in the region are so
interesting that it simply amazes me that the property players are still
obsessed with this little red dot. I will elaborate later posts.However busy I am, I am so used to going to
church everyday that I’m actually addicted to going to church at Saint Andrew’s
Cathedral. It all started at the beginning of the year, when I was in self
doubt that I sought comfort and solace in God’s fold. What happened
subsequently was nothing short of miraculous. I was guided through the whole
experience through a whole series of people and events culminating to enlighten
me. Now I start the day with hymns before
proceeding to church. Don Moen’s“God
will make a way” and “ Tis so sweet to trust in Jesus” are my favourite hymns.
At church is where I find peace, an oasis to contemplate life and find strength
to face the challenges of life. What I can say is that I am a new person who is
past a lot of material things and looking at life from a different perspective.
This post is for all of you who are facing challenges. Have faith in him and
you will not be disappointed. He will make a way even if there seems to be no
way.

Hi Guys! I am writing to you from the air again. This time I am on the way back from the Land of the Rising Sun. I cannot feel but a little ...

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Andy OngFounder of ERC Holdings

Andy Ong Siew Kwee currently serves as the Founder of ERC Holdings. Under his leadership, the parent group has since established strong foothold in four business silos namely education ERC Institute , hospitality, training and property investment within two decades.

Ong is a strong believer in enabling startups and young brands reach their potential. Together with a group of partners, he founded the Entrepreneur’s Resource Centre (ERC) to help budding entrepreneurs transform their business ideas into sustainable models.

The recent venture into a co-working space; BIGWork , an ideation incubator lab; BIGFund and an immersive startup fitness concept; BIGFitness is a testament to Ong’s vision of staying at the forefront of innovation.

In the fashion of undying entrepreneurial spirit, Ong also pursued opportunities out of the education and training space. The BIGHotel was set up in 2013, and was later sold in a multi-million dollar deal.

To date, Ong has built a strong portfolio in a wide range of industries; he is the owner of several businesses in education, training, print media and property investments with a combined annual turnover of $200 million.

A multi-faceted talent, Ong is an author and a seasoned property investor too.

Ong has been featured on major media outlets such as CNBC, Bloomberg and The Straits Times.